Fiserv, Inc. and Cardlytics teamed up to deliver merchant-funded rewards through Corillian Online, Fiserv’s integrated banking, payment, and personal financial management solution.

Through this partnership, Fiserv is providing financial institutions with the ability to integrate targeted reward offers into the daily banking experience. Customers can redeem rewards, typically as cash back, by clicking on an offer within their transaction history and then spending at the designated merchant using their financial institution-issued debit, credit, or prepaid card. This gives cardholders an opportunity to save money without the hassles of coupons and provides a compelling reason to use both online banking and financial institution-issued cards.

Cardlytics’ transaction marketing platform enables financial institutions to present offers that are funded by local, regional, and national merchants, and are personalized using an account holder’s actual spending patterns to ensure the offers are relevant to each recipient.

For example, a customer who ate at a fast food restaurant earlier in the week might be presented with an offer to earn rewards from another fast food chain. Offers are presented directly beneath relevant line-item transaction records when customers view their transaction history online or through a mobile device. This is accomplished without using any personally identifiable information and no transaction data ever leaves the security of the financial institution.

Rewards programs initiated through Fiserv and Cardlytics are highly personalized. Offers can be targeted based on a variety of factors, such as where consumers shop or how much they spend. Participating merchants include national and local restaurants, retailers and service and entertainment providers. While the programs are initially available to users of Corillian Online, there are plans to integrate into the Mobile Money mobile banking service from Fiserv.

The Cardlytics reward program can be implemented as cash-back, points or miles but is typically implemented as a cash-back rewards program, complementing existing card rewards programs the financial institution may have in place.

Regions Bank is one of the first financial institutions to offer targeted rewards to online banking customers supported by Fiserv and Cardlytics platform solutions.

For more information:
http://newsroom.fiserv.com/releasedetail.cfm?ReleaseID=561688